HALO - Halozyme: Antares Pharma Bolsters Growth Prospects

• Halozyme Therapeutics announced that they are acquiring Antares Pharma at $5.60 per share in cash, for a total of ~$960M. The deal is expected to close in 1H of 2022.
• Antares develops products utilizing their drug delivery systems and has multiple royalty streams for their auto-injector platform.
• Antares Pharma’s auto-injector technology should pair up with ENHANZE formulations, theoretically permitting the injection of larger volumes or delivering faster injections.
• Halozyme projects the transaction to be accretive this year, and will “accelerate top and bottom-line growth through 2027, with multiple growth drivers beyond 2027”.
• The company’s growth trends are still strong and the share price has weathered the sell-off. As a result, HALO is still one of my “Top Ideas” in the Compounding Healthcare marketplace service.

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